Gross Domestic Product (Hansard, 7 March 1973)

§ Mr. Hordern
asked the Chancellor of the Exchequer if, from international sources, he will give figures to show the proportion of gross domestic product taken up by corporate profits, after tax and after stock, appreciation and capital consumption from 1964 annually to the latest convenient date, for the United States of America, France, West Germany, and Japan.

§ Mr. Nott
Information on corporate profits is not available from international sources. Certain information is available from the national publications of two of the countries concerned and is given below, but these figures may not be strictly comparable with each other. Figures are also shown as a percentage of national income since this excludes capital consumption.

CORPORATE PROFITS ^*BEFORE TAX AS A PERCENTAGE OF (a) GROSS DOMESTIC PRODUCT AT FACTOR COST AND (b) NET NATIONAL INCOME

United Stares of America Japan†

(a) (b) (a) (b)

1964 11.1 12.2 10.9 12.9

1965 11.7 12.9 9.6 11.2

1966 11.6 12.8 10.1 11.8

1967 10.5 11.5 11.4 13.4

1968 10.3 11.3 12.8 15.0

1969 8.9 9.8 13.0 15.3

1970 7.4 8.2 13.8 16.1

1971 7.7 8.5 n.a. n.a.

n.a. = not available.

^*After deducting stock appreciation and capital consumption.

†Income of private corporations only.

164W

§ Mr. Hordern
asked the Chancellor of the Exchequer if, from international sources, he will publish figures giving the proportion of gross domestic product taken up by public expenditure for each year from 1964 to the latest convenient date for the United States of America. France, West Germany, and Japan.

§ Mr. Nott
The information given in the following table relates to the current expenditure on goods and services and the gross capital formation of general (central plus local) government. Figures for the other main component of public expenditure (capital expenditure by public trading enterprises) are not available.

GENERAL GOVERNMENT EXPENDITURE AS A PERCENTAGE OF GROSS DOMESTIC PRODUCT AT FACTOR COST

United States of America France* West Germany Japan

1964 23.7 18.8 22.3 n.a.

1965 23.3 18.6 22.4 n.a.

1966 24.2 18.4 23.8 15.6

1967 26.2 18.4 23.1 14.4

1968 26.7 18.5 22.1 14.1

1969 26.2 18.0 22.6 14.1

1970 26.2 17.8 22.9 14.1

1971 n.a. n.a. 24.2 n.a.

n.a. = not available.

Source: National Accounts of OECD countries 1960–1970 and latest returns from member countries.

'Excluding changes in stocks.

CORPORATE PROFITS ^*BEFORE TAX AS A PERCENTAGE OF (a) GROSS DOMESTIC PRODUCT AT FACTOR COST AND (b) NET NATIONAL INCOME
	United Stares of America	Japan†
	(a)	(b)	(a)	(b)
1964	11.1	12.2	10.9	12.9
1965	11.7	12.9	9.6	11.2
1966	11.6	12.8	10.1	11.8
1967	10.5	11.5	11.4	13.4
1968	10.3	11.3	12.8	15.0
1969	8.9	9.8	13.0	15.3
1970	7.4	8.2	13.8	16.1
1971	7.7	8.5	n.a.	n.a.
n.a. = not available.
^*After deducting stock appreciation and capital consumption.
†Income of private corporations only.

GENERAL GOVERNMENT EXPENDITURE AS A PERCENTAGE OF GROSS DOMESTIC PRODUCT AT FACTOR COST
	United States of America	France*	West Germany	Japan
1964	23.7	18.8	22.3	n.a.
1965	23.3	18.6	22.4	n.a.
1966	24.2	18.4	23.8	15.6
1967	26.2	18.4	23.1	14.4
1968	26.7	18.5	22.1	14.1
1969	26.2	18.0	22.6	14.1
1970	26.2	17.8	22.9	14.1
1971	n.a.	n.a.	24.2	n.a.
n.a. = not available.
Source: National Accounts of OECD countries 1960–1970 and latest returns from member countries.
'Excluding changes in stocks.